NGXGROUP posts N3.2bn revenue, sheds over 45% of its profit

Nigeria Exchange Group Plc on the 27th July, 2023 posted N3.2bn turnover for the half year ended June 30th, 2023. This represents about 16% decrease on its previously reported N3.8bn turnover in 2022.

The market regulator sheds its bottom-line figures by 45.85% to settle at a profit after tax of N444mn from Profit After Tax of N840mn declared in the preceding period of 2022.

Consequently, the company’s earnings per share dropped by 45.85% from N0.02 in 2022 to a N0.01 in the current period under review,

With a large outstanding number of shares running to over 52 billion, the price to earnings ratio stood at 3223.16x and earnings yield of 0.03%.